Eagle Rock Investment Company LLC Trims Position in American Express (NYSE:AXP)

Eagle Rock Investment Company LLC trimmed its holdings in American Express (NYSE:AXP - Free Report) by 11.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 45,414 shares of the payment services company's stock after selling 5,701 shares during the period. American Express accounts for approximately 2.1% of Eagle Rock Investment Company LLC's portfolio, making the stock its 11th largest position. Eagle Rock Investment Company LLC's holdings in American Express were worth $12,219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital & Planning LLC purchased a new position in American Express during the fourth quarter worth about $213,000. Brighton Jones LLC raised its holdings in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after purchasing an additional 1,273 shares in the last quarter. Silver Oak Securities Incorporated raised its holdings in American Express by 2.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the payment services company's stock worth $423,000 after purchasing an additional 35 shares in the last quarter. Leo Wealth LLC raised its holdings in American Express by 80.3% during the fourth quarter. Leo Wealth LLC now owns 5,860 shares of the payment services company's stock worth $1,739,000 after purchasing an additional 2,609 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in American Express during the fourth quarter worth about $40,920,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXP has been the topic of several recent analyst reports. William Blair restated an "outperform" rating on shares of American Express in a research report on Monday, April 21st. Truist Financial upped their target price on shares of American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Royal Bank of Canada restated an "outperform" rating and set a $310.00 target price on shares of American Express in a research report on Monday, April 21st. Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price on the stock in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $296.05.

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider now owns 10,919 shares in the company, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

American Express Stock Up 2.3%

Shares of NYSE AXP opened at $302.71 on Friday. American Express has a 1 year low of $220.43 and a 1 year high of $326.28. The firm's 50 day moving average price is $273.60 and its 200 day moving average price is $289.09. The firm has a market cap of $212.08 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter last year, the business earned $3.33 earnings per share. As a group, sell-side analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

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